Richardcyoung.com

The Online Home of Author and Investor, Dick Young

  • Home
  • How We Are Different
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • Your Survival Guy
  • The Great Reset
  • My Rifles
  • Concentrate on Dividend Record and Compounding
  • Your Security
  • The Swiss Way
  • Dick Young
  • Debbie Young
  • Key West
  • Paris
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Your Health
  • Old Confederacy
  • Main Street Conservative
  • BLM’s Marxist Agenda
  • Ron Paul
  • Bank Credit & Money
  • Freedom Force
  • Dick Young’s Safe America

The Big Winners When You Faithfully Give to a Cause (Retirement)

February 12, 2020 By E.J. Smith - Your Survival Guy

By CuteCute @ Shutterstock.com

If you didn’t read about the massive fund controlled by the Mormon Church, you will. With 16,000 plus members tithing 10% of their earnings, the fund has amassed a $100 billion fortune—a cash-generating behemoth that would make Warren Buffett blush.

Roger Clarke, the head of the investment fund Ensign Peak that controls the church’s money, used to be a professor at Brigham Young University, reports Ian Lovett and Rachael Levy for the WSJ. He was running an investment firm in Los Angeles when he got the call. “It certainly wasn’t the most attractive financial office,” Mr. Clarke said. “But you want to make a difference in your life…This was an opportunity.”

Be careful of those who want to make a difference in the world with your money. Guiding this “opportunity” for Mr. Clarke is one Ray Dalio, Report Lovett and Levy: “On his office bookshelf, Mr. Clarke keeps a copy of Principles by Ray Dalio, the founder of Bridgewater Associates.[Clarke] said Bridgewater deputies have visited in the past, and that Mr. Dalio’s firm ‘helped us think about what’s happening kind of in the broader economy.’ Bridgewater declined to comment.”

Declined to comment. Typical. We know Mr. Dalio is living his best life. Who else has the church been listening to? According to the WSJ:

Mr. Clarke said the fund has pulled some of its money from an investment firm called Fisher Investments after the founder, Ken Fisher, made remarks last year that Mr. Fisher later called “inappropriate.” A spokesman for Fisher declined to comment.

Declined to comment. Despite Ken Fisher’s apologies for remarks called “off-color” and “sexist,” Ensign Peak wasn’t alone in abandoning Fisher. The Boston Retirement System pulled $248 million from Fisher Investments. Fidelity ended its $500 million relationship with Fisher too.

What’s most telling about this must-read article is how little it’s tithing membership knows about the fund. Take Carolyn Homer, who said: “When I hear members of the church say, ‘It’s none of your business how wealthy we are,’ that to me is echoing the very scripture we revere, and not in a good way.”

You and I are witnessing a widening canyon dividing big money funds from you the investors and members they portend to represent. You may not even be able to trust the world’s largest asset manager anymore.

When you faithfully give to a cause, whether it’s your church or your retirement, you entrust leadership to look out for you.  As we’ve seen in my series “You Invest, They Win,” the rules may apply to you but not to them. The big money has some answering to do.

Originally posted on Your Survival Guy.

Related Posts

  • Successful Investing Is a Mindset
  • Video: The Retirement Gamble
  • Your Retirement State
  • Author
  • Recent Posts
E.J. Smith - Your Survival Guy
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998.

E.J. has trained at Sig Sauer Academy in Epping, NH, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention.

E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris.

Please get in touch with E.J. at ejsmith@yoursurvivalguy.com
Latest posts by E.J. Smith - Your Survival Guy (see all)
  • PANDEMIC Pushes Military-Grade Surveillance on Americans Like YOU - January 21, 2021
  • A President Speaks: “Hard Work Never Killed Anybody” - January 20, 2021
  • Smith Family Robinson in Live Free or Die, NH - January 19, 2021

Dick Young’s Must Reads

  • Democracy: The Most Dangerous and Insidious Effect of Majority Rule.
  • Why Black Lives Matter Needs to Be Shut Down
  • You Need to Seek Some Shelter for When Things Get Ugly
  • You Want the Limo, Not the Public Bus
  • VIDEO: Giuliani: BLM Is a Marxist Organization Planning to Destroy the Police
  • Insurrection Was the Furthest Thing from Trump’s Mind
  • My Battle-Hardened Stock Market Strategy for the Worst of Times
  • A Look at the Future of Main Street America
  • What to Do about China?
  • Could this Be the Vanguard GNMA Winning Edge?

Our Most Popular Posts

  • The Recklessness of Arnold Schwarzenegger
  • The Stock Market Is About Money Flows Not Politics.
  • Dick Young’s Safe America: Chapter 1, Part I
  • Who Are Those Urging Violence?
  • Smith Family Robinson in Live Free or Die, NH
  • Warmongering Firestarters Victoria Nuland and Samantha Powers Back
  • Cancel Culture, the Great Purge, Double Standards
  • How Are You Doing on a Local Level?
  • How S.D. Surged in Vaccination Inoculations
  • Insurrection Was the Furthest Thing from Trump’s Mind

Disclosure

RSS Youngresearch.com

  • Do You Know Who’s the Largest Owner of Farmland in America?
  • Investors Are Being Conditioned Not To Recognise the Danger
  • I’ve Been in Richard Young’s Maximizers for Years
  • What Is the Stock Market’s Link to the Economy?
  • Smith Family Robinson in Live Free or Die, NH
  • Dick Young’s Safe America: Chapter 1, Part I
  • Whether Through Audacity or Ignorance, Stock Fundamentals Are Being Ignored
  • Happy Martin Luther King Jr. Day!
  • The Fed is Sacrificing Retirees to Save the Banks
  • Jim Simons’s Renaissance Technologies vs. Internet Forum Traders

Ten Republican Senators to Get Behind

Why Do Government Officials Want To Silence Their Opponents?

And 2022 Is Right Around the Corner

PANDEMIC Pushes Military-Grade Surveillance on Americans Like YOU

Facebook Is Already Censoring This Letter

This Guy Is America’s New President: Shotgun Joe

Copyright © 2021 | Terms & Conditions | About Us | Dick Young | Archives